Search results for "Strategy"
showing 10 items of 2256 documents
Choosing among alternative technological strategies: an empirical analysis of formal sources of innovation
2003
Abstract This work aims to offer a detailed conceptual and empirical analysis of the inter-firm differences in deciding the composition of their technological efforts. Using data for Spanish firms in the period 1990–1996, the study begins with the standard analysis of the determinants of innovative investment, then moves on to the less analysed question of the determinants of the generate versus import alternative and ends with a novel analysis of the characteristics which lead firms to organise research internally as compared to the possibility of contracting R&D services externally. In contrast to standard practice, the econometric approach takes into account the existence of non-linearit…
Exit with vertical product differentiation
2005
Abstract This paper presents a duopoly model of exit from a declining industry with vertical product differentiation. It extends previous IO models on exit that have so far ignored demand effects. The model shows how the interplay between demand and technological factors determine the order of exit. Therefore, demand factors are relevant and should be taken into account. Thus, the firm with a longer tenure as a profitable monopolist does not necessarily outlast its rival. In addition, this paper argues that the low-quality firm may find it optimal to stay in the market despite making temporary losses to outlast its rival.
Congestion management rules and trading strategies in the Spanish electricity market
2009
Abstract This paper analyses the economic incentives embodied in the rules governing the resolution of transmission constraints in the Spanish wholesale electricity market and the way these incentives may have influenced on the trading behaviour of both the generators and the demand side. The evidence obtained is consistent with them responding to these incentives. In particular, buyers would respond to the way congestion costs are billed to them by abandoning the daily market in favour of the intraday market as far as possible. Additionally, some strategic generators may have been prompted the system operator to require them to inject electricity into the system to solve network congestion…
Harvesting and recovery decisions under uncertainty
2010
Abstract A stochastic forest rotation model in the Faustmann tradition is presented and exemplified. The model combines harvesting decisions with the potential to recover or clean up to restore the land after very unfavorable evolutions of the stochastic growth process. Uncertainty is shown to have a generally ambiguous effect on the optimal choice of investment strategy. It is also shown how such models can be related to theory of optimal inventory control.
A Further Note on Endogenous Spillovers in a Non-tournament R&D Duopoly
2008
This note considers the paper of Poyago-Theotoky (1999) on strategic R&D with endogenous spillovers. It proves through an example that, under R&D collusion, optimality sometimes requires either minimal or asymmetric spillovers. It also provides a simple sufficient condition for optimal spillovers between colluding firms to involve maximal spillovers (i.e., complete sharing of information).
Culture at work: how culture affects workplace behaviors
2014
Purpose – The purpose of this paper is to give structure to the argument that “culture matters.” Further, the aim is to show how cultural differences shape the use of incentives within firms and point toward culturally affected degrees of efficiency. Design/methodology/approach – The paper incorporates differences in the evaluation of the stimuli money, order, and monitoring into a simple efficiency wage model. Profit maximizing firms are assumed. Findings – It is found that the use of incentives should respect the cultural surrounding. Data from a real-world analysis can partly be explained with this model, which was not done before. Research limitations/implications – The major limitation…
El componente de selección adversa de la horquilla de precios cotizada: una revisión de los modelos de estimación
2005
-Jose.E.Farinos@uv.es -Ana.M.Ibanez@uv.es Una de las principales preocupaciones en el área de la microestructura del mercado ha sido la estimación de los componentes no observables de la horquilla de precios a partir de las series de datos que proporcionan los mercados financieros, despertando quizá un mayor interés el de selección adversa por la implicaciones que supone la existencia del mismo. Esto ha provocado el desarrollo de numerosos modelos empíricos que, basándose en las propiedades estadísticas de las series de precios, proporcionan dichas estimaciones. La mayor disponibilidad de datos existentes en los mercados ha permitido el desarrollo en los últimos años de modelos basados en t…
Do Powerful CEOs Determine Microfinance Performance?
2012
Recently, microfinance has been coming under public and media attacks. The microcredit crisis following from microfinance-induced suicides in 2010 in the Indian state of Andhra Pradesh indicates that weak corporate governance and imprudent risk taking have far-reaching consequences. Yet, analyses of corporate governance mechanisms among microfinance institutions (MFIs) remain underdeveloped. As a response, this study examines the impact of CEO power on MFI risk taking by deriving explicit predictions of this effect from a characterization of the microfinance industry. Based on a sample of 280 microfinance institutions, our results suggest that powerful CEOs of microfinance non-governmental …
The migrant crisis in the Mediterranean Sea: Empirical evidence on policy interventions
2021
Abstract This paper presents a novel set of empirical evidence to explore several hypotheses regarding the migrant crisis in the Mediterranean Sea. The political instability in transit countries, such as Libya, that made pre-existent repatriation policies ineffective, called for several search-and-rescue operations in the Mediterranean, which in turn have been wrongly accused of fostering illegal immigration and increasing deaths at sea. The empirical results show that the main determinants of the departures are several root causes at the departing African countries, underlining the importance of fighting human smuggling networks. The paper suggests a change in migration studies’ perspectiv…
Neural Multimodal Belief Tracker with Adaptive Attention for Dialogue Systems
2019
Multimodal dialogue systems are attracting increasing attention with a more natural and informative way for human-computer interaction. As one of its core components, the belief tracker estimates the user's goal at each step of the dialogue and provides a direct way to validate the ability of dialogue understanding. However, existing studies on belief trackers are largely limited to textual modality, which cannot be easily extended to capture the rich semantics in multimodal systems such as those with product images. For example, in fashion domain, the visual appearance of clothes play a crucial role in understanding the user's intention. In this case, the existing belief trackers may fail …